LAWRENCEVILLE, N.J., June 18, 2014 (GLOBE NEWSWIRE) -- via PRWEB - Edison Ventures proudly announced today leading an $8.25 million Series A financing of LogFire. Atlanta-based LogFire is the leading multi-tenant, cloud-based warehousing and in-store inventory management and fulfillment platform provider. Edison's $6.25 million investment will accelerate company growth, drive innovation, and strengthen efforts to further penetrate the cloud-based supply chain market globally across diverse industries. Fulcrum Equity Partners also participated in the round.
"The LogFire team has a great combination of deep consumer goods and retail domain expertise and an already impressive track record of not only developing relationships with logistics leaders around the globe, but also helping them become more nimble so they can react to market changes quickly," said Joe Allegra, General Partner at Edison Ventures, who is joining the board of directors of LogFire. "We're excited about LogFire's market opportunity as we partner to help them accelerate growth and continue to lead their market in innovation." David Nevas, Edison Principal, who led due diligence said, "LogFire's customers appreciate management's thorough understanding of the market and the flexibility the company's offering provides."
More than 5000 users worldwide across leading retailers, wholesalers, third-party logistics (3PLs), manufacturers, and ecommerce companies rely on LogFire to solve critical multi-channel warehouse management and supply chain fulfillment challenges. The company's solutions are quickly and easily implemented with flexible configuration capabilities for even the most complex multi-channel inventory and fulfillment needs.
"This milestone highlights LogFire's opportunity and success in leading the market with a new paradigm for managing complex supply chain operations – locally, globally, and across multiple channels," said Diego Pantoja-Navajas, LogFire Founder & CEO. "Edison shares a commitment to our vision and we value their unique partnering approach, which will help us capture our vast market opportunity and innovate ahead of the competition."
LogFire marks Edison's 46th investment by its Enterprise 2.0 practice, which focuses on security and cloud leaders that automate core business processes and solve infrastructure challenges. Noteworthy exits include Assessment Systems, Axent, InSoft, Marcam, Octagon, Tangoe, VirtualEdge and Uptivity. Current Enterprise portfolio companies include Billtrust, Kemp Technologies, MotionSoft, Neat, NSi, Operative and VFA.
About Edison Ventures
For 28 years, Edison Ventures has been helping CEOs and their executive teams navigate the entrepreneurial journey to becoming successful companies. Through the unique combination of expansion capital and the Edison Edge platform, consisting of strategic advisory, the Edison Director Network, and both industry and functional events, Edison employs a holistic approach to nurturing invention and creating value for growth stage businesses ($5 to $20 million in revenue) in financial technology, healthcare IT, enterprise IT, and interactive marketing industries. Edison investment objectives also include: buyouts, recapitalizations, spinouts and secondary stock purchases.
The Edison portfolio has created aggregate market value exceeding $5 billion. Its long-tenured team, based in Lawrenceville, NJ, New York, NY, McLean, VA and Cleveland, OH, currently manages more than $850 million in active investments throughout the eastern United States.
About LogFire
LogFire is the leading provider of innovative multi-tenant cloud-based supply chain execution, warehouse management, in-store inventory management, and fulfillment solutions for manufacturers, wholesalers, retailers, e-commerce companies and logistics service providers (3PLs/4PLs) of all sizes. LogFire combines strong supply chain, warehousing, logistics, and retail domain expertise with flexible cloud-based solutions and Software-as-a-Service (SaaS) pricing for multi-channel warehouse management and in-store inventory management needs, providing inter-enterprise as well as extended-enterprise network and total cost of ownership advantages over traditional systems. For more information visit http://www.LogFire.com.
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